The Board of Reliance Industries Limited (RIL) on Friday approved a scheme of arrangement under which the EPC and Infrastructure Undertaking of Reliance Projects and Property Management Services Limited (RPPMSL), a wholly owned subsidiary of RIL is proposed to be demerged into RIL.

This demerger, together with the existing EPC team in RIL, creates a focused EPC undertaking in RIL to cater to the needs of the group, a RIL release said.

Reliance Industries Ltd (RIL) and Reliance Jio are in discussions with lenders to raise up to $1.5 billion (about Rs 12,400 crore) and $2.5 billion (around Rs 20,600 crore), respectively, through foreign loans, reported The Economic Times.

To support its capital investment strategy, RIL is attempting to raise the necessary money through external commercial borrowing (ECB). According to those with knowledge of the situation, it is in discussions with a number of lenders, including Barclays, HSBC, and MUFG (Mitsubishi UFJ Financial Group) Bank.

Mukesh Ambani's Reliance Industries and US-based Apollo Global Management are teaming to bid for Boots — the international chemist and drugstore unit of Walsgreen Boots Alliance Inc — according to a report in the Economic Times. The combined bid from Reliance and Apollo for Boots could come in as early as Friday, June 3.

Shares of Reliance Industries (RIL) hit an over two-month high of Rs 2,513.50 after the shares gained 2 per cent on the BSE in Tuesday’s intra-day trade. The stock was among the top gainers on the S&P BSE Sensex, which down 0.33 per cent at 57,104 points at 10:02 AM.

The stock of RIL, which hit its highest level since January 19, 2022 today, had hit a record high of Rs 2,750 on October 19, 2021. In the past two weeks, RIL has outperformed the market by surging 12 per cent as compared to a 7-per cent rise in the benchmark index.

Reliance Industries (RIL) announced the opening of the country’s largest business, commerce and cultural destination — the Jio World Centre — spread across 18.5 acres at Bandra Kurla Complex in Mumbai.

The initial launches are the Dhirubhai Ambani Square, the musical Fountain of Joy and The Jio World Convention Centre. The Jio World Centre will have a phase-wise opening over the course of the current and the next year, RIL said in a release.

Shares of Reliance Industries (RIL) were down 3 per cent at Rs 2,305 on the BSE in Tuesday’s intra-day, falling 7 per cent in the past two trading sessions, despite the company’s clarification on loan of Rs 750 crore granted to Shapoorji Pallonji Company by its arm Reliance Ventures Limited (RVL).

A sharp decline in stock price has seen, RIL’s market capitalisation decline by Rs 1.17 trillion in past two trading days.

Reliance Industries (RIL) on Monday has raised $736 million in green loan to fund the acquisition of solar panel maker, REC Solar Holdings. This will be first such financing for the Mukesh Ambani-owned company.

REC Solar is the borrower while Reliance New Energy Solar is the guarantor, as per local media reports.

Reliance Industries Ltd is considering an offer for British telecom company BT Group Plc, the Economic Times reported on Monday, citing unnamed sources familiar with the matter.

Reliance might make an unsolicited offer to buy into BT Group or will try to get a controlling share in it, the report said.

Reliance Group firm Reliance New Energy Solar has offered Rs 375 per share to acquire 49.1 mn shares of Sterling and Wilson Solar for over Rs 1,840 crore.

The 49.1 mn shares constitute 25.9 per cent equity stake or the entire public holding in Sterling and Wilson Solar Ltd, Sterling and Wilson Solar said in a regulatory filing.

Indian oil-to-telecoms conglomerate Reliance Industries Ltd said on Tuesday its solar unit Reliance New Energy Solar Ltd (RNESL) will buy preferred shares of German firm NexWafe worth 25 million euros ($28.82 million).

RNESL agreed to buy 86,887 series C preferred shares of NexWafe at 287.733 euros per share, Reliance said, adding that RNESL would also be issued 36,201 warrants exercisable for one euro per warrant, subject to achievement of agreed milestones.

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